Share

Shareholders approved the transaction at an extraordinary general meeting held on February 4, and all final proceedings were squared away today, including the issuance of approximately 3.7 billion ordinary shares to Hanwha Solar Holdings.

The deal also sees Hanwha SolarOne change its name to Hanwha Q Cells Co., Ltd, which will become effecting on the NASDAQ stock exchange from February 9. The companys headquarters will now be located in Seoul, South Korea.

"We believe the merger of Hanwha SolarOne and Hanwha Q Cells will create a number of synergies and provide us with a much-strengthened presence and competitive position in the global PV market," said Hanwha SolarOne CEO and chairman, Seongwoo Nam. "We plan to carefully manage the integration of the two companies, which have been benefiting in recent years from Hanwhas strategic support and the larger Hanwha culture."

In January, Hanwha Q Cells revealed it is to cease all production in Germany  a move analysts believe is simply a reflection of weak European demand in the solar PV industry rather than as a direct result of the merger with Hanwha SolarOne.

Popular content

Share

Ian Clover

Ian joined the pv magazine team in 2013 and specializes in power electronics (inverters) and battery storage. Ian also reports on the UK solar market, having worked as a print and web journalist in Britain for various multimedia companies, covering topics ranging from renewable energy and sustainability to real estate, sport and film.

Related content

Elsewhere on pv magazine...

Your email address will not be published. Required fields are marked *

Comment

Name *

Email *

Website

Save my name, email, and website in this browser for the next time I comment.

By submitting this form you agree to pv magazine using your data for the purposes of publishing your comment.

Your personal data will only be disclosed or otherwise transmitted to third parties for the purposes of spam filtering or if this is necessary for technical maintenance of the website. Any other transfer to third parties will not take place unless this is justified on the basis of applicable data protection regulations or if pv magazine is legally obliged to do so.

You may revoke this consent at any time with effect for the future, in which case your personal data will be deleted immediately. Otherwise, your data will be deleted if pv magazine has processed your request or the purpose of data storage is fulfilled.

Keep up to date

pv magazine Global offers daily updates of the latest photovoltaics news. We also offer comprehensive global coverage of the most important solar markets worldwide. Select one or more editions for targeted, up to date information delivered straight to your inbox.

Email*

Select Edition(s)*

Hold Ctrl or Cmd to select multiple editions.

We send newsletters with the approximate frequency outlined for each edition above, with occasional additional notifications about events and webinars. We measure how often our emails are opened, and which links our readers click. To provide a secure and reliable service, we send our email with MailChimp, which means we store email addresses and analytical data on their servers. You can opt out of our newsletters at any time by clicking the unsubscribe link in the footer of every mail. For more information please see our Data Protection Policy.

Keep up to date

We send newsletters with the approximate frequency outlined for each edition above, with occasional additional notifications about events and webinars. We measure how often our emails are opened, and which links our readers click. To provide a secure and reliable service, we send our email with MailChimp, which means we store email addresses and analytical data on their servers. You can opt out of our newsletters at any time by clicking the unsubscribe link in the footer of every mail. For more information please see our Data Protection Policy.

The cookie settings on this website are set to "allow cookies" to give you the best browsing experience possible. If you continue to use this website without changing your cookie settings or you click "Accept" below then you are consenting to this.